Propel Media's Financial Transparency: A Call for Action Amidst Unreported Figures

Propel Media, a company with no publicly reported financials since 2019, has been analyzed by Cedar Creek Partners. The analysis relies on data from DeepIntent's ABL with SLR Investment to infer revenue and profitability. While no concrete figures are provided, the report suggests that Propel Media has been able to maintain revenue despite the lack of public financials.

Propel Media, a company with no publicly reported financials since 2019, has been under scrutiny by Cedar Creek Partners. The analysis, which relies on data from DeepIntent's Asset-Based Loan (ABL) facility with SLR Investment Corp, provides insights into Propel Media's revenue and profitability. Although no concrete figures are provided, the report suggests that Propel Media has been able to maintain revenue despite the lack of public financials [2].

The ABL facility allows Cedar Creek Partners to track Propel Media's borrowing levels and, by extension, its revenue run rate. The analysis indicates that annualized revenue was likely between $90 and $120 million at the end of 2022, rising to between $112 and $150 million by the end of 2023, an increase of nearly 25%. By the end of 2024, revenue run rate appears to have been between $200 and $266 million, representing an 80% increase from a year earlier. In the first quarter of 2025, revenue run rate is estimated to be between $230 and $304 million, indicating a 14% increase from the previous quarter [2].

The report also notes that Propel Media began paying quarterly dividends in August 2023, distributing over $0.086 per share in dividends over two years. The company's main business, DeepIntent, has an ABL facility with SLR Investment, which provides a window into Propel Media's financial health. The analysis suggests that DeepIntent's revenue run rate is estimated based on the current ABL loan amount, with borrowing capacity typically limited to 85-90% of accounts receivable [2].

While the report offers valuable insights into Propel Media's financial health, it is essential to note that the figures are estimates based on the best available information. Investors should approach these estimates with caution and await more concrete financial data from Propel Media itself. The company's ability to maintain and grow its revenue in the absence of public financials suggests a robust underlying business, but further transparency would be beneficial for investors.

References:
[1] https://www.ainvest.com/news/liberty-media-q2-2025-revenue-41-strong-formula-1-performance-strategic-moves-2508/
[2] https://seekingalpha.com/article/4811626-propel-media-decoding-the-black-box-via-deepintents-abl-with-slr-investment